28/07/2010
The $36.5bn Alaska Permanent Fund Corporation (APFC) has committed around $20m to absolute return strategy Goldman Sachs Investment Partners (GSIP) through an external CIO real return mandate also managed by the same firm.
Due to an SEC rule that states a firm cannot direct a client’s money into a fund that they own 20% or more of without consent, Goldman Sachs had to ask permission to invest 4% of the $500m real return mandate it manages for APFC, effectively the Alaskan state’s sovereign wealth fund, into one of its hedge funds.
In fact, APFC has
14/04/2010
The $30.3bn Irish National Pensions Reserve Fund (NPRF) has hired New York-based advisory firm Aksia as a specialist fund of hedge funds (FoHFs) consultant as it prepares to make its first ever investment into the hedge fund space.
The pension fund is set to allocate as much as $682m (€500m) to a FoHF portfolio, which will form part of overall absolute return allocation that aims to ‘provide a return stream that is uncorrelated to or has low correlation with the NPRF’s other assets’, according to the original tender which was issued in January.
According to
25/03/2010
The board of trustees for the Alaska Permanent Fund Corporation (APFC) has changed its absolute return policy to allow the $36.5bn sovereign wealth fund to bypass so called ‘gatekeepers’ and invest directly in hedge funds.
APFC has not been investing in funds of hedge funds (FoHF), stated a spokesperson, rather it employs managers to tailor institutional mandates solely for the fund under a managed account structure.
The fund’s 6% absolute return allocation is managed by Crestline Investors, Lazard Asset Management, Mariner Investment Group and Pacific Alternative Asset Management Company (Paamco) which all manage hedge fund
17/02/2010
The $11bn Wyoming Permanent Funds, one of four sovereign wealth funds in the US, has invested in a third fund of hedge funds (FoHF) manager.
The Wyoming Treasurer’s Office, which manages the nine Permanent Funds, approved a $150m allocation in the Grosvenor Global Recovery Fund managed by Grosvenor Capital Management.
Wyoming already invests $240m each with Paamco and Aurora Investment Management.
As a result of the market conditions in 2008, the Wyoming Treasurer’s Office decided to officially increase the hedge fund allocation from 5% to 7.5%, according to Michael Walden-Newman, chief investment officer. Even
07/10/2009
HSBC Prime Services, the bank’s recently launched prime brokerage unit, is to adopt an Asia-Pacific focus in a bid to capitalise on the region’s growing importance as a hedge fund centre, HFMWeek has learned.
